Digibyte, a cryptocurrency that is 40 times faster than Bitcoin, and has a unique feature of flexibility took a deep fall in price. Riding on the shoulders of Bitcoin, Digibyte did not survive the the greater fall of all the digital assets, falling back to $0.004 within the week. Today, it has taken a huge turn to where it belongs, resting in the in the $0.06 after retesting the $0.7 price zone. Not only Digibyte, Bitcoin has also taken a rebound from its $9000 price drop to $12000. Litecoin has also bounced back to the $200 after being dislocated from that position.
The Inside Story
There is one thing that cryptocurrency technical teams cannot avoid, and that is a market pullback. The trade market has undergone series of them in the past, and experts predicted that the worst might come again. Jared Tate, the founder of Digibyte addressed the members of the Digibyte community on their Facebook page that market inconveniences such as pullbacks are out of their control. He also admitted that this was predicted some time back by experts. “A note to all DigiByte investors. Days like today happen, and they are outside of our control. These cycles have been occurring in crypto markets for the last half-decade. This pullback was forecasted by many,” he posted.
DigiByte (DGB) earlier was being referred to as the sleeping giant until John Macfee tweet ignited its interests. The Digibyte tokens used just a month to record a 43.88% hitting $0.0433. Digibyte used 100 days to record another 425.30% from $0.01186. DigiByte (DGB) has 9.71B coins mined with the market cap $631.243M. Digibyte recorded its all-time high of $1.4 in January 2018 until the storms of the market forcefully drove it back to the shores of the $0.04. Amidst the recent market tribulation, the Digibyte community is positive that the price will rise to the moon.
In the post, Jared explained that the recent market pullback came from the Chinese new year. He also advised that this is a perfect time to enter into the cryptocurrency investment. “We are also coming up on Chinese New Year. Combine that with regulatory uncertainty across Asia and this pullback undoubtedly started there. Market pullbacks are an excellent opportunity for new market participants to get involved.” The market pullback is a combined result of South Korea Bitcoin ban announcements and the Bitcoin mining ban in China. It is also partly attributed to the American cryptocurrencies regulation.
Projects Put in Place
For the past months, Digibyte investors have called on the team to wake up from their slumber and put things in place for the asset to compete in the market. Tate, in the post, said that this year will be very promising as they have measures in place to drive Digibyte to the moon.
“We have many exciting developments underway now! New wallets, new exchanges, and new platforms and services built on top of DGB. 100’s of people are working hard each and every day to make DigiByte better.Rome was not built in a day and we will continue doing like we have the past four years,” he said.
Digibyte has a faster block timing and has the flexibility for future innovations to increase the transaction speed to thousands of seconds. Most cryptocurrencies have been created in the market, but few have the potential to storm the digital world. Digibyte has been said to be far better than Bitcoin in many ways. It is also better in functioning than most of the cryptocurrencies that are experiencing a 1000 percent increase. It has recently been listed in most of the exchange websites and its breakthrough is just a moment away.
Jared Tate rounded up his post with encouraging words for the digibyte community that 2018 will be an exciting year. “Keeping our head down and focused on building real-world DigiByte utility. That is what really matters for long-term sustained growth.” He added that this is just the beginning of the frequent updates of news to its inventors. “2018 is going to be a great year! Stay tuned for more daily updates and news! Thank you all for continuing to support DigiByte,” he concluded.